Glenview Trust co Sells 400 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Glenview Trust co lessened its position in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,933 shares of the bank’s stock after selling 400 shares during the quarter. Glenview Trust co’s holdings in German American Bancorp were worth $279,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Franklin Resources Inc. lifted its stake in shares of German American Bancorp by 13.0% during the third quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank’s stock valued at $67,557,000 after acquiring an additional 196,003 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of German American Bancorp by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 999,381 shares of the bank’s stock valued at $40,195,000 after acquiring an additional 44,845 shares during the period. State Street Corp lifted its stake in shares of German American Bancorp by 6.9% during the third quarter. State Street Corp now owns 772,675 shares of the bank’s stock valued at $29,941,000 after acquiring an additional 50,206 shares during the period. Geode Capital Management LLC lifted its stake in shares of German American Bancorp by 1.6% during the third quarter. Geode Capital Management LLC now owns 704,094 shares of the bank’s stock valued at $27,289,000 after acquiring an additional 11,386 shares during the period. Finally, German American Bancorp Inc. lifted its stake in shares of German American Bancorp by 160.1% during the third quarter. German American Bancorp Inc. now owns 514,018 shares of the bank’s stock valued at $19,918,000 after acquiring an additional 316,400 shares during the period. Institutional investors and hedge funds own 46.90% of the company’s stock.

German American Bancorp Stock Up 0.3 %

Shares of German American Bancorp stock opened at $38.77 on Tuesday. German American Bancorp, Inc. has a 1 year low of $31.06 and a 1 year high of $47.08. The business has a 50-day moving average of $39.62 and a two-hundred day moving average of $40.81. The company has a market capitalization of $1.45 billion, a P/E ratio of 13.75 and a beta of 0.60. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.81.

German American Bancorp (NASDAQ:GABC) last announced its quarterly earnings results on Monday, February 3rd. The bank reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.09. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%. As a group, equities analysts predict that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a $0.29 dividend. This is an increase from German American Bancorp’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend was Monday, February 10th. German American Bancorp’s dividend payout ratio is 41.13%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price target on German American Bancorp from $46.00 to $47.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. Piper Sandler cut their target price on German American Bancorp from $49.00 to $48.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $46.40.

Insiders Place Their Bets

In other news, Director Diane B. Medley acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $39.21 per share, for a total transaction of $39,210.00. Following the completion of the acquisition, the director now owns 5,370 shares in the company, valued at $210,557.70. This represents a 22.88 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders acquired 1,064 shares of company stock worth $41,764 over the last ninety days. 6.16% of the stock is currently owned by corporate insiders.

About German American Bancorp

German American Bancorp, Inc operates as a financial holding company for German American Bank that provides retail and commercial banking services. The company operates through three segments: Core Banking, Wealth Management Services, and Insurance Operations. The Core Banking segment accepts deposits from the general public; and originates consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, as well as sells residential mortgage loans in the secondary market.